FY2024 EPS Estimates for Alamos Gold Cut by Analyst

Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) – National Bank Financial lowered their FY2024 EPS estimates for Alamos Gold in a research report issued on Monday, November 11th. National Bank Financial analyst M. Parkin now anticipates that the basic materials company will earn $0.83 per share for the year, down from their previous forecast of $0.84. National Bank Financial currently has a “Hold” rating on the stock. The consensus estimate for Alamos Gold’s current full-year earnings is $0.77 per share. National Bank Financial also issued estimates for Alamos Gold’s FY2025 earnings at $1.11 EPS and FY2026 earnings at $1.18 EPS.

Several other research analysts have also recently issued reports on the company. StockNews.com cut Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Scotiabank raised their price target on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group lifted their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada increased their price objective on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Alamos Gold has an average rating of “Moderate Buy” and a consensus target price of $25.06.

Alamos Gold Stock Performance

Shares of AGI stock opened at $17.77 on Thursday. The business has a fifty day moving average of $19.94 and a 200 day moving average of $17.95. Alamos Gold has a 1 year low of $11.24 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 0.80 and a beta of 1.19.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The company had revenue of $360.90 million during the quarter. Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a dividend of $0.025 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.10 annualized dividend and a yield of 0.56%. Alamos Gold’s dividend payout ratio is presently 16.67%.

Institutional Investors Weigh In On Alamos Gold

A number of large investors have recently made changes to their positions in the stock. Bridgewater Associates LP raised its holdings in shares of Alamos Gold by 37.0% during the 3rd quarter. Bridgewater Associates LP now owns 139,191 shares of the basic materials company’s stock worth $2,775,000 after acquiring an additional 37,574 shares during the period. FMR LLC raised its stake in Alamos Gold by 50.8% during the third quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock worth $127,027,000 after purchasing an additional 2,148,153 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Alamos Gold by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,066,428 shares of the basic materials company’s stock valued at $41,205,000 after purchasing an additional 38,913 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Alamos Gold in the 3rd quarter valued at approximately $1,486,000. Finally, Pekin Hardy Strauss Inc. increased its holdings in shares of Alamos Gold by 4.6% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 224,841 shares of the basic materials company’s stock worth $4,486,000 after buying an additional 9,825 shares during the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Company Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.